HOUSTON, March 5 /PRNewswire/ -- American General Corporation (NYSE: AGC)
today announced the election of Michael J. Poulos to the company's board of
directors, increasing the board to 12 members. Poulos joins American
General's board following the company's acquisition of Western National
Corporation on February 25, 1998.
Poulos' 40-year financial services career includes 23 years with American
General, serving as president and vice chairman of the corporation, and
13 years on the board. He retired from American General in 1993 to become
chairman, president, and chief executive officer of Western National, the
nation's leading provider of fixed annuities sold through financial
institutions.
In commenting on the announcement, Robert M. Devlin, chairman and chief
executive officer, said, "Mike Poulos has demonstrated vision and leadership
throughout his distinguished and successful career in the financial services
industry. Our company will benefit from his significant industry expertise,
knowledge of American General, and success in the fast-growing annuity market,
an area in which we intend to expand our leadership position. We look forward
to his sound counsel as we position American General for future growth in a
rapidly evolving industry."
Poulos began his financial services career with The United States Life
Insurance Company in 1958, where he held various sales and management
positions. In 1970, he joined California-Western States Life Insurance
Company, which became a wholly owned subsidiary of American General in 1975.
At that time, he was elected president and chief executive officer of
Cal-West. Poulos later served in several senior management positions with
American General. In 1979, he was named senior vice president with
responsibility for American General's life insurance operations. He was
elected president of the parent company in 1981, and was elected vice chairman
in 1991. He served on the board from 1980 to 1993.
Poulos, 67, a native of Glens Falls, New York, received his B.A. degree in
economics from Colgate University in 1953, and his M.B.A. degree from New York
University in 1963. He is a Chartered Life Underwriter (CLU), an NASD-
registered principal, and a graduate of the Life Insurance Marketing Research
Association (LIMRA) school for senior marketing officers.
Poulos is a member of the American Management Association, the American
Society of Certified Life Underwriters, and the National Association of Life
Underwriters. He has served as a director of the Texas Association of Life
Insurance Companies, a director of the Sam Houston Area Council, Boy Scouts of
America, and a director of the Houston Symphony Society.
American General Corporation is one of the nation's largest diversified
financial services organizations with assets of $93 billion and shareholders'
equity of $8.2 billion. Headquartered in Houston, it is a leading provider of
retirement services, life insurance, and consumer loans to 12 million
customers. American General common stock is listed on the New York, Pacific,
London, and Swiss stock exchanges.
SOURCE American General Corporation
 back to top
Company News On-Call: http://www.prnewswire.com or
fax, 800-758-5804, ext. 114643
CONTACT:
Investors: David W. Entrekin, Vice President
- Investor Relations, 212-446-3109, or Media: John E. Pluhowski,
Director - Corporate Communications, 713-831-1149, both of
American General Corporation
|
